St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1887-05-05
YESTERDAYS MARKET.
On the Chicago Eoard of Trade Better
Feeling Prevailed at the
Stars
Prices We're Somewhat Higher and Several
Options Scored Fractional
Advances.
Heavy Purchases of June Wheat
Made by Prominent Clique
Brokers.
transactions in the Financial Circles
of Wall Street eneral
Quotations.
Special to the Globe.

Special to the Globe.
CHICAGO, MAY THE point was
still this morning that the wheat
market would react, but like yesterday
the point was no good. The outside markets
were so bullish, the receipts were so small
aud the facts in regard to the clique holding
were now so well established that the wheat
nit was not as manageable as it has been.
The local crowd was ON the rampage on its
own hook and the host OF fellows, Dig ana ut
tie who have been SO eXtravagantly bearish
took the market themselves and advanced the
pr.c, of June wheat to ST sc.kershaw Co.,
and Irwin Green & Co., bought enormously
of June. They took the offerings so per-
slstently that it was estimated that their cards
held not less than coo bushels when
they left OF. The theory is that the clique
had il laid out to break June right on the
heels of the delivery day, but
that the changed aspect OF affairs at
ST. Louis New York ana other MAJ ketS com
PEELED them TO send along buying orders for
fear that the local crowd would take the
market from them. Linn was apparently
seller nj above SIC, ana so was Cudahy, ii the
personnel of the brokers doing the selling Is
any guide. Cudahy, however, is an outSpoken
bul OF most pronounced type, anu Is prop
able simply
SCALPING THE MARKET.
The cearances of wheat Ut the Atlantic sea-
board were Il little Disappointing to-day.
They have been comparatively small now for
TWO days. The new business, however, was
reported large and the demand for export
blisk Milwaukee wheat, which WAS sold in
New York at g3c, was 95c bid to-day. The
holders lust us soon rs they sold at New
York bought nj Chicago, "beng bound to
stay long on some wheat. somewhere. Yes
terliay outside markets led the pace for Chi
cage. To-day. Judging from the New York
ana other dispatches, the outside markets had
their eyes on Chicago. The purchases of June
wheat to the extent of several millions OF
bushels 10y the Clique houses in the Chicago
bit were filled ut once in New ork. st. Louis
messages said that the cash wheat there was
plainly held by the same clique which was
oprratinr in Chicago. The attitude Of the
different interests here is now plain TO every
body The Oid-timc monarchS of the wheat
Dit. Ream, Jones and Linn, are all plainly
dlsgruntlcd. They have beeu beaten
in lighting the deal and beaten
they feel sore. Anybody would. 1t is related
that one of them bought May wheat enor-
mously through two of the clique houses, and
sold June, and that his attitude was one Of
the main reasons for changing the clique
plans. Now the taller finds the May deal
abandoned and himself short of June. Some
Kicker who sold pork short, and who has
persistently stood out in the hope that after
everybody else had delivered or settled the
bars would be let down for him, has applied
10 a committee Tor relief. 1t begins to look,
however. as if the bear legislation, which has
been so plenty of late, would stop, and as If
the bulls in wheat pork and ether produce
would be given an even chance with the
short sellers.
THE ROUTINE REPORT.
CHICAGO, May There was better feel
ing prevailing on, change when trading opened
this morning and prices were correSpondingly
higher. June wheat opened firm at S3ts and
,Ix,o 6Uapcp1 n S45S nn1nr brisk local
buying. The same option iii corn opened at
3g7 . and sold freely at 40. in the provision
nit there were only few small lots for sale,
about 21sc advance over yesterday closing
prices Lard was Il little more freely offered
than ribs at unchanged prices. The early
advance to S4}s for June wheat was caused
by heavy purchases made by Irwin. Greene
and Kershaw. They bought about all that
was offered On the upturn the houses named
are alleged TO have taken in FULLY 2,00O,00O
bushels. Several times during the first two
hours of the session June sold up to S41s,
the temper of the local crowd being strong
on general principles as much as on any
special news There were those who expected
Il decline to-day baSing this BELIEF on IL tip
that was permitted to leak out from certain
houses largely interested in the market, but
as it was quite generally known that these
houses are daily increasing their lines OF
long wheat the rip was looked upon as UNI
reliable, and the crowd therefore refrained
from rushing in to sell lot OF stuff that it is
claimed the bull clique was waiting for an
opportunity to buy. The market held steady
and closed for the day ut 81 1a@S45sc for June,
while July was held at sc discount. The
amount of wheat on ocean passage increased
$4,000 bu. The cearings from the seaboard
aggregated ll5,U00 bu. The corn market
ruled firmer, owing to light receipts and the
strength shown in corr. The trading, how
ever was light Oats were quiet and steady.
~. oil nhQn md
and snort ribs ruled little tirmer early, but
closed about the same as yesterday.
THE QUOTATIONS..
The leading futures ranged as follows:
Wheat-No. =. May, opened at Size, clos
ing at S2%c; June, SS7sc, closing at S41a@
S45sc; July, $3.50, closing at s4lsc: August,
S275c closing at S3l9dS3Mc. Corn-NO. =,
May, 3S1%c. closing at 3Sa sM3S12c: June, Ace,
closing AT 39Is@40c; July, 4l5sc, closing at
Age; August, 425sc, closing at 1890. Oats
No. ., May, 21lsc, closing at 271sc; June.
2S5sc, CLOSING at 2S3sc; July. 2914c. Closing at
s9lsc. Mess pork, per barrel-May, S23, clos
.ng at S23: june, S23, closing ut S23. Lard,
per 100 pounds-May, $3.50, closing at $3.50;
June, $3.50. closing at $6.92%; July. 81,
closing at $,.02}%; August, Si.071a, closing at
sT.l2I5. Short ribs, per 100 pounds-May,
S7.421%. closing at 81 40; June, $1.42l@, clos
ing at $50; July, STD, closing at
$50 August, STA. closing at 81 .6s1a,
Cash quotations were as follows: Flour quiet
and unchanged. Wheat-No. > spring. seq
S21%c; No. 3 spring, I4c; No. = red, S2%4c.
Corn--No. ,. $3.50 Oats-No. =, - sc. Rye
No. >, Sic. Barey-No. 2, 5ic. Flax Seed
No. l, $l.01. Timothy Seed-prime, Sl.65.
Mess pork. per bbi, S23. Lard, per 100 lbs,
So 81. Short ribs sides, loose, $40; dry
sailed shoulders, boxed, $5.9OD6; short clear
sides, boxed, ST.9G@I.95. Whisky, distllers'
finished goods per gal, Sl.lS. Sugars Cut
loaf, 64@65sc; granulated, &c; standard A,
55.c. Receipts-Fiour, $4,000 bbls; wheat,
$4,000 bu; corn, $1,000 bu: oats, l29, 900 bu Z;
rye LOO bu; barley, $4,000 bu. Shipments
Flour. a.OO0 bbls; wheat, 49, 900 blu: corn.
40, 600 bu: oats, -, 200 bu: rye, LOCO bu; bar
ley, 1000 bl.. On the produce exchange
to-day the butter market was quiet; cream
cry, lSM23c per 10: dairy, l30l9c per 10.
Eggs. l015@llc per doZ.
r. M. NEWPORT g. SON,
n\e2iment fnkegs, l52, 1853, l54 Drake Block,
/ Oun None ON Improved Real Estate Security, at